Baltimore
Modus Hotels Relaunches Brookshire Suites in Baltimore
At the end of 2012, Modus Hotels announced the purchase of the Brookshire Suites in Baltimore’s famous Inner Harbor. The Washington, D.C.-based full service hotel development and management company paid $7.85 million for the property, according to PropertyShark. In the weeks that followed the announcement, it started work on a multi-million dollar renovation project, to breathe new life into the old building, originally constructed in 1958.
Arundel Village Plaza Shopping Center Sold for $6.5M
An Anne Arundel county shopping center changed hands last week. BTR Capital Group sold the Arundel Village Plaza Shopping Center to Oak Tree Management for $6.5 million. The Greysteel Company, a real estate investment services firm based in Washington D.C., served as exclusive advisor and agent.
$120M in Financing Secured for Redevelopment of 662 KSF M-U Complex in Baltimore
The Rotunda, a 217,000-square-foot office and retail complex in Baltimore, is well on the way to being transformed into a premier 662,000-square-foot mixed-use destination, courtesy of a $120 million construction financing deal.
Resmark and Timberlake Homes Constructing Creekstone Village Townhome Community in Anne Arundel County
A new, single-family townhome community is coming to Anne Arundel County. Resmark Land and Housing, a division of The Los Angeles-based Resmark Companies, and Timberlake Homes announced at the end of January that construction is underway on Creekstone Village in Pasadena. The project is expected to be completed in 36 months.
Blue Ocean Realty Buys 720-Unit Millbrook Park Apartments in Pikesville
720 apartments. 73 buildings. 40 acres of land. Put them all together and you get the Millbrook Park Apartments in Pikesville. Blue Ocean Realty, one of the largest owner-managed investment companies in the Baltimore metropolitan area, recently purchased this massive complex.
Joint Venture to Convert Vacant Baltimore Warehouse into Luxury Historic Lofts
The Raffel Building, a historic building currently sitting vacant in one of Baltimore’s most desirable neighborhoods, is on its way to becoming upscale apartments. Two local companies, Poverni Ventures LLC and Management Restoration Services LLC , have formed a joint venture to redevelop the abandoned warehouse at 111 W. Heath Street and turn it into the Heath Street Lofts.
JBG, Klein Enterprises Unveil State-of-the-Art Social Security Administration Complex at 6100 Wabash Avenue
The JBG Companies and Klein Enterprises have unveiled last week 6100 Wabash Avenue, a state-of-the-art, twin-building facility for the Social Security Administration. Baltimore Mayor Stephanie Rawlings-Blake and Congressman Elijah Cummings were among the officials and community leaders present at the ribbon-cutting ceremony.
Transwestern Hired to Sell Two Apartment Communities in Anne Arundel County
Two apartment apartment communities in Anne Arundel County are now on the market. Together, they offer over 450 units. Transwestern’s Bethesda, Md.-based Mid-Atlantic Multifamily Group has been named as exclusive agent for the sale of both properties.
Laurus Buys 25-Story Office Tower in Baltimore’s CBD
Los Angeles-based private real estate investment and development firm Laurus Corp. has purchased its first Baltimore office building with the acquisition of 294,274-square-foot 36 S. Charles St.
Federal Capital Partners Pays $61M for 184 KSF Office Property in DC Suburb
One Preserve Parkway, a seven-story, 183,667-square-foot trophy office tower in Rockville, Md., has been acquired for $61 million by Federal Capital Partners.